ELSA, the English language learning platform, has announced that it has secured $22.5 million in Series C funding. This brings the total amount raised by ELSA to $60 million. The funding round was led by UOB Venture Management, with participation from UniPresident, Aozora Bank, Vietnam Investments Group (VIG), and Development Bank of Japan (DBJ). Existing investors Gradient Ventures, Monk’s Hill Ventures, and Global Ventures also took part in the funding round. As part of the investment, UOB senior director Clarissa Loh will join ELSA’s board.
ELSA has also unveiled its latest offering, ELSA AI Tutor. This new feature leverages years of speech recognition data collected by the app to help learners improve their pronunciation, grammar, and tone. Using generative AI, ELSA AI Tutor is able to reproduce conversations and provide learners with feedback in real-time. The feature also customizes lessons based on users’ past performance. ELSA AI Tutor is designed for individuals who want to practice live conversations with a tutor but do not have access to one.
ELSA was founded in 2016 by CEO Vu Van and offers a range of language learning tools, including personalized learning plans, test and interview preparation, and a speech analyzer. Its latest funding will be used to support the growth of the platform and expand its global offering. Van stated that ELSA aims to empower more people to join the global job market by improving their English skills, as English is a leading job requirement worldwide.
UOB Venture Management’s Loh expressed her belief that artificial intelligence will play a significant role in the education industry. She praised ELSA’s AI-enabled English speaking solution for its affordability and personalization, which can help users improve their skills and create more job opportunities, particularly in developing countries. ELSA plans to expand into new markets, particularly in Southeast Asia.
ELSA’s success in securing funding and launching its AI Tutor demonstrates the growing demand for personalized and accessible language learning solutions. With its innovative approach to language education, ELSA is well-positioned to address the needs of learners around the world.
Sources:
– ELSA raises $22.5M Series C to expand its AI-based English learning app
– ELSA, English language learning platform, raises $22.5m in Series C funding